Adds a Hurdle to Cross-Channel Commerce

Getting Your Money

This is where it’s currently impossible to be an international customer, although they say they’ll be expanding soon. Technically, international customers probably could take in payments right now, but they would not be able to get the money out afterwards. WePay could also be forced to close the account.

US-based WePay customers can link a bank account to receive payments or get a cheque sent out. You can even order a debit card for your account.

WePay Vs PayPal Comparison

WePay aim to make it easy for individuals and groups to collect payments. Collecting payments easily is WePay’s primary goal, whereas PayPal’s aim is to facilitate the sending of money too.

Fees vary wildly between PayPal and WePay:

PayPal aim to take fees from merchants and the senders of money, while WePay defaults to take money from the person making the payment (except for donations). WePay customers can also choose to change the default so that the fees are charged to them.

WePay fees are easy to understand, while PayPal fees take pages of detail to explain.

A US$10 payment incurs fees of 50 cents at WePay or a minimum of 52 cents at PayPal (30c + 2.2% for discounted merchant rate), while the normal fee payment would be 59 cents at PayPal (30 cents + 2.9% for merchants or personal transfers).

A US$100 payment incurs fees of $3.50 at WePay or a minimum of $2.50 at PayPal (30 cents + 2.2% for merchants) to a maximum of $4.20 at PayPal (30 cents + 3.9% for international payments), while the normal fee payment would be $3.20 at PayPal (30 cents + 2.9% for merchants or personal transfers).

WePay is not yet available internationally, whereas PayPal is available in most countries.

Check out WePay’s promo video on Vimeo.

Will you be using WePay when it’s available in your area? Why or why not?